Date:10/12/2006 URL: http://www.thehindu.com/2006/12/10/stories/2006121005310400.htm

Karnataka - Bangalore

`Political system needs examining'

Staff Reporter

Chartered accountants association celebrates golden jubilee

BANGALORE: Higher Education Minister D.H. Shankaramurthy on Saturday advocated a system to ensure checks and balances in the country's economy, which was currently witnessing very fast growth.

He wanted chartered accountants to take the lead in this initiative.

`Crucial role'

Inaugurating the golden jubilee celebrations of the Karnataka State Chartered Accountants Association (KSCAA) here, Mr. Shankaramurthy said auditing and cost accounting played a very crucial role in the growing economy.

The Minister also wanted an audit of the political class to reverse the current pessimism among the public about the political system in general. Public confidence in the system had to be restored through such audits, he said.

A discussion on the contribution of chartered accountants by C.A. Kamlesh Vikamsey, a walkathon, a children's talent competition and a cultural extravaganza called "Ojas" featuring a dance by Nirupama-Rajendra were part of the inaugural programme.

Felicitated

Many past presidents of the association were felicitated on the occasion.

The association was founded on December 7, 1957. The Bangalore branch was established on April 1, 1962.

Veteran chartered accountant S. Krishnaswamy observed that the KSCAA had made an important contribution to the strengthening of professionalism in the Indian business sector.

Yardstick

Development of the chartered accountancy profession, he said, was the yardstick for evaluating the development of the nation's business and economy.